TransCanada reaches deals with 3 more B.C. First Nations for pipeline project

PRINCE RUPERT, B.C. – TransCanada Corp. says it has reached project agreements with three more First Nations in northern British Columbia as part of efforts to build a pipeline across the province to a proposed liquefied natural gas terminal on the coast.

Specifics of the agreements weren’t announced but TransCanada said they provide for annual legacy payments over the commercial life of the Prince Rupert Gas Transmission pipeline plus benefits upon signing and at other milestones.

The latest agreements are with the Doig River First Nation, Halfway River First Nation and Yekooche First Nation.

TransCanada (TSX:TRP) has previously reached four other agreements with Lake Babine Nation, Nisga’a Lisims Government, Gitanyow First Nation and Kitselas First Nation.

But members of the Lax Kw’alaams First Nation in northwestern British Columbia rejected a $1.15-billion offer from Malaysia’s Petronas, which wants to build the Pacific Northwest LNG terminal on Lelu Island, south of Prince Rupert.

Members of the Lax Kw’alaams had raised concerns over the project’s potential impact on neighbouring Flora Bank, a marine ecosystem immediately adjacent to Lelu Island.